Investors: Press Release
GeckoSystems, a Mobile Robot Co., Traded on OTC Stock Exchange With Current Status
CONYERS, GA -- July 14, 2011 -- GeckoSystems Intl. Corp. (Pink Sheets: GOSY | http://www.geckosystems.com/) announced today that its stock is now quoted in the U.S. over-the-counter (OTC) markets, on the Pink OTC Current Information tier, under the ticker symbol GOSY. GeckoSystems is a dynamic leader in the emerging mobile robotics industry revolutionizing their development and usage with "Mobile Robot Solutions for Safety, Security and Service(tm)."
"We are pleased to announce that GeckoSystems has been upgraded from the "Pink Sheets Limited Information to Current Information" rating by the widely used Pink OTC quotation service upon acceptance of the Company's most recent financial statements and other requested supplemental information," remarked R. Martin Spencer, President/CEO, GeckoSystems Intl. Corp.
Current Information Status is reserved for companies disclosing adequate, mainly financial, company information publicly that increases transparency so investors can make informed decisions.
As a result of having its securities available for trading under Current Information status on the Pink OTC market, GeckoSystems is able to offer its shareholders ease of trading through regulated broker-dealers, while providing transparency to its investors, business partners, and customers.
“By making more company information publicly available as to stock structure, beneficial owners, etc, GeckoSystems is attempting to foster an efficient secondary trading market and provide greater understanding of our business model for investors, advisors, and regulators in the OTC market. We hope that our meeting the Current Information guidelines will allow us to better satisfy the needs of our stakeholders by providing high quality disclosure to investors via Pink Sheets.
"We have long expressed and demonstrated our commitment to increasing stockholder value. At the beginning of this year we bought back 185,000,000 shares that reduced our issued and outstanding over 25 percent. Our second buyback this year of 40,000,000 shares reduced our issued and outstanding by more than 7 percent. Our recent third buy back of more than 6.6 percent of all issued and outstanding has been completed and gives continuing substance to that commitment. With this completed stock buy back, over 250,000,000 GOSY shares have been purchased since the beginning of this year and will reduce the issued and outstanding to 466,160,675 of which 128,864,235 shares are in the public float. These three stock buy backs present many benefits to our large shareholder base, just as a stock dividend would," said Spencer.
The term “OTC securities” is a catchall phrase for any equity security that is not listed on a U.S. stock exchange. The OTCQX and Pink OTC marketplaces constitute, by dollar volume, the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. (NASDAQ) and The New York Stock Exchange (NYSE).
Due to the need for equity financing for high growth firms, GeckoSystems has worked for over ten years to become fully reporting as soon as financially viable. In fact, the Company has been successfully audited twice, for two year periods each, and found to be fully compliant under thorough outside financial audits prepared by SEC certified CPA firms with the Financial Accounting Standards Board's (FASB's) generally accepted accounting principles (GAAP).
"Due to the level of risk inherent in high tech, emerging market Development Stage firms such as ours, especially during this post Great Recession era, we understand clearly that only equity (not debt) instruments can provide sufficient return on investment (ROI) for investors to assume the risk of purchasing any high tech, emerging market stock such as GOSY stock. Hence our long time efforts in this regard, and determination to continue our move upward to not only a more pronounced domestic stock exchange, but also those with international reach, such as OTCQX," observed Spencer.
GeckoSystems received their Pink OTC trading symbol from FINRA as a result of satisfying all of their due diligence requirements from the filing of a Form 15c2-11. The Company has never been a "shell" and has no unaccounted for, or otherwise missing, shares. "We worked for nearly a year in preparing our initial 15c2-11 submission to, and addressing the comments of, FINRA prior to their issuance of our trading symbol. We received our trading symbol from FINRA in September of 2007. In order to enable electronic stock transfers we became DTC eligible in January of 2008. As a DRS Participant, the ability to transfer GOSY stock electronically is even more streamlined, efficient, transparent, and reliable," stated Spencer.
DRS provides for the electronic direct registration of securities in an investor’s name on the books of the transfer agent or issuer. It allows shares to be transferred between a transfer agent and a broker electronically through the industry’s DRS Profile Systems. Historically, investors hold their shares either in “street name” with their broker, or they are “registered shareholders” and have a certificate. Consequently, the Company is in a position, as a DRS participant, to readily identify those parties engaging in "naked short selling" of GOSY stock.
"We are very pleased to be able to offer our stockholders this new, heightened level of corporate transparency and greater ease in their transfers of their GOSY holdings trading in the Pink Sheets in the Current Information tier.
"We wish to assure our stockholders that this greater efficiency in the marketplace for our stock will further enhance the value and liquidity of GOSY stock and increase the ROI for them as we continue in our efforts to move upward to more pronounced domestic and international stock exchanges," reflected Spencer.
About OTC Markets Group:
Pink OTC Markets Inc. is a financial information and technology services company that operates the leading electronic quotation and trading system in the Over-the-Counter (OTC) securities market. The OTCQX and Pink Sheets marketplaces that they operate constitute, by dollar volume, the third largest U.S. liquidity pool for trading public company shares, after The NASDAQ Stock Market, Inc. and The New York Stock Exchange. Pink OTC technology platform provides a comprehensive suite of information products and trading services for OTC market participants.
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